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at the new york stock exchange. as we hurry toward the edges of the fiscal cliff, this market holding its breath. but holding up. >> yes, so far. technology one of the few bright spots with apple rebounding after that huge decline we saw yesterday. its worst day in four years. it's got everybody on wall street scratching their heads trying to figure out what the problem is with apple. at any rate, here's where we stands right now. sort of a meandering day for the markets. some economic data out this morning. the market responding to that. then a sideways move after that. the nasdaq benefitting from the rebound in technology yesterday. up 11.5 points on the thatnasda. the s&p is also trading higher. there it is. up 2.5 points on the s&p. >> meanwhile, bullish sentiment at an eight-month high right now. equity allocation is still at the lowest level of the year according to the american association of individual investors survey that was out this weekend. stock in a wait-and-see mode. totally understandable until these fiscal issues are resolved. >> but don't just sit on your hands. there i
. >> thanks peter. always good to see you. again our two fiscal cliff portfolios for the first time since the election of november 6th, they are betting we will not go over the fiscal cliff interestingly enough. right now the dow up just 15 points as we head towards the close. much more to come on the second hour of "closing bell." >>> and it's that time of day. it's 4:00 p.m. here on wall street. maria will be back in the seat tomorrow. as the clock winds down to the fiscal cliff deadline, this is how we're finishing on wall street. at this stage it looks like we got a gain of only 14 points for the dow. obviously we were higher than that, not much more but were higher earlier in the day. the nasdaq up by only eight points and the s&p finishing up by just a trickle of positive. well, ticktock. the market is closed. seems to be waiting once again for some clear signal on what's going to happen with regards to the fiscal cliff. how can you make money in the final trading sessions of the year amongst all this uncertainty? >> we have definite answers coming with our panel. back with us natha
and that might affect the company negatively. wall street counting down the hours the fiscal cliff deadline, we have somebody who says this isn't the real fiscal cliff at december 31 isn't the real deadline to watch. we will tell you what it isn't how you might want to play it. david: how do i go flyfishing with paul volcker? or maybe lunch with business titans. how you can do those experiences with some of the top minds. liz: what drove the market with the "data download." david: if it is in ontana, i would take it. liz: stocks pushed into the green with all the major indices pushing into the green. longest winning streak in nearly two months. potatoes and industrials were the top perffrming sectors while they could not quite get it. oil for the fifth day in a row slip into a three-week low on concern over the italian prime minister resignation soon and the impact on europe's debt crisis. crude and in the day down $0.37 $85.56 per barrel. gasoline has come down $0.10 over the past few weeks. korn falling to a three-week low so far i'm growing demand overseas for supplies from the u.s. soybean
was trying to frame the battle oaf the fiscal cliff as being all about taxes. with no mention of spending cuts. >> i'm not going to sign any package that somehow prevents the top rates from going up for folks at the top 2%. but i do remain optimistic that we can get something done that is good for families like this one. that is good for the american economy. >> republicans believe the reason the president is going light on spending cuts and demanding the budget deal include another increase in the nation's debt ceiling is clear. >> this isn't about getting a handle on the deficits or debt for him. it's about spending even more than he already has. >> white house aides reject republican claims that holding the debt limit over the president head is the only mechanism to get him to trim spending. >> you are going to keep the debt limit goes higher and you're spending money. you and congress. >> president signed in law, $1 trillion in spending cuts. there is a specific proposal to achieve $600 billion in savings from our entitlement programs. including our healthcare entitlement program. jay
: the elephant in the room, as we stand on the essential of the fiscal cliff. what the president does not want to talk about. plus senator jim demint is here to tell you why he is leighing the senate. this is "special report." this is "special report." ♪ ♪ good evening >> good evening. i'm bret baier. much of the public debate focuses on taxes. democrat want to raise them on high earners. republicans don't. but there is another part of the equation that gets less attention. that is spending cuts. chief white house correspondent ed henry looks in to that tonight. >> reporter: pulling on the heart strings as if he were back on the campaign trail, president obama visited middle class family in virginia. >> a couple of thousand dollars means a couple months' rent for this family. >> once again, he was trying to frame the battle oaf the fiscal cliff as being all about taxes. with no mention of spending cuts. >> i'm not going to sign any package that somehow prevents the top rates from going up for folks at the top 2%. but i do remain optimistic that we can get something done that is good for fa
reasons. >> i would guarantee if there is a fiscal cliff agreement, this stock shoots up big time. >> capital gains. that's all about capital gains in my mind. i cited other things i think are a problem but capital gains is why they're selling. >> have a great weekend, everybody. "power" starts right now. >> announcer: halftime is over. "power lunch" and the second half of the trading day start right now. >>> indeed it does. and today on "power lunch," no progress. a very stark assessment from the house speaker on where the fiscal cliff talks stand with 24 days to go. where should you put your money heading into this weekend? could be a very crucial weekend. >>> no worries. with the unemployment rate still near an 8% level, why some companies can't find workers. there's work and it is not a skills gap. we'll show you what else is being factored in to that equation. >>> and no fair, perhaps? well, a big change at big blue. ibm changing the way it pays down its 401(k). will other companies follow suit? tyler mathisen, my partner, who is always fair, always working, and is always a w
to look for some kind of a deal on the fiscal cliff. >> some kind being the operative words. hello everyone, again. maria is going to be back tomorrow but in the meantime you're stuck with me. let's see what the markets are up to today. the dow holding marginally above water. as for the nasdaq and the s&p, let's get a check on those two as well. they've been kind of positive today, but not superbly so. at least it is a positive start to the trading week. >> now, forget about the number of days -- shopping days until christmas. we're talking about 13 and a half trading days after today how to position your money ahead of what might or might not happen with the fiscal cliff deal. are we ready to go? let's find out how you should be investing. everybody's looking at me like i should not be saying something right now. okay. everybody's there. mandy? >> okay. joining us now we have a cast of thousands. dan mcmahon from raymond james. nathan backrat. and our very own rick santelli. thank you for joining us today. nathan, let's start with you. so 13 and a half trading days left. what do y
this before, haven't we? what do average americans want to see in a fiscal cliff solution. we've got the exclusive results of our exclusive cnbc all-america economic survey. >>> now to everybody's all-american, sue herera standing by at the nyse. >> you're sweet, ty. thanks. >>> we're a little bit on the downside. we really kind of retraced a little bit on the dow jones industrial average. previous to this we were solidly in the green in all three of the major market indices. the dow now down 14 1/2 points. nasdaq up eight. the s&p is down just a fraction. of course we are also watching apple on the back of yesterday's drop. the stock today is traded up $4.82. that's just under a percentage move to the plus side. it's rebounding, still at bear market territory, however. it has lost over $50 billion in market cap over the past few days alone. our bob pisani joins me here on the floor of the nyse. what are you hearing from traders? the market is drifting a little bit. the focus is on apple. there seems to be a little bit of enthusiasm that it can come back to the up side. >> we were up
a cliffhanger for homeowners. how tumbling over the fiscal cliff could affect the housing recovery. in today's cover story, coffee bean prices are dramaticly lower. why the price of some cups of joe remains the same. plus, a breakdown of the recent jobs data. what sector is still struggling? what you can expect to pay at the gas pump this holiday season. and, this year's literary sensation made for a very merry christmas for workers at a publishing house. first business starts now. you're watching first business: financial news, analysis, and today's investment ideas. good morning. it's monday, december 10th. i'm angela miles. in today's first look: traders are watching for a santa claus rally, but it's not happening for tech yet. on friday the dow finished off a 3-session winning streak, but the nasdaq lost more ground as apple continues to sink tech stocks. gold rallied above $1,700 an ounce, while oil pulled back. aig reports its losses from damage and destruction caused by superstorm sandy will be $1.3 billion. it's green monday. the second monday in december is considered a c
to the fiscal cliff. cnbc's challenge to lawmakers to rise above partisan politics, seem compromise and find the solution. the clock is ticking down. the stakes are getting higher. now, we are turning up the pressure. this is a cnbc special report, "mission critical: rise above d.c." >> welcome back to our continuing coverage, mission critical: rise above d.c. we've been here all morning long. while we've been here on capitol hill, we've been talking to lawmakers about rising above gridlock and reaching a real deal on the fiscal cliff. in the last hour we sat down with grover norquist saying no one should strike a bad deal, and that there is no better reason to raise taxes now than there was in the past. he also added he thinks house speaker boehner has been a good leader during the fiscal cliff negotiations. and then we were joined by bob corker and bob conrad. corker said we need to focus more on entitlements now, and he will not sign any package that doesn't deal with entitlements at this point. conrad said more, not less, should be included in some sort of a big deal. by big deal, he mea
2012. i am gretchen carlson. hold the phone. president and speaker hold a fiscal cliff call. there is a problem, the white house doesn't want to budge. >> we face no agreement that doesn't involve the rates going up on the top two percent. >> gretchen: so is it really progress or a stand still. >> steve: meanwhile the reverend behind this nativity scene. live pictures and he has a message from the federal government. merry christmas, government. you are not the real savior. the reverend joins us live this christmas season. >> brian: super storm sandy couldn't wipe out his home but something else did. >> she said to me. are you sure your house is gone. you misplace a pen and pencil but not a house. >> gretchen: how the entire house vanished."fox and friendst now. ♪ ♪ "fox and friends". >> steve: a house is something that is not easy to misplace. if you leave it there, you come back and it is there. >> gretchen: you hope that happens. we'll fill you in on the details. in the meantime what happen in a phone call. a lot can happen, right. you can get in fights and agreements
are higher as fiscal cliff song and dance continues in washington. mr. boehner says he is waiting for a proposal from this gentleman, the president. president obama. and the president is set to speak about the cliff and the a economy later today. >> i thought i was supposed to come here today. you thought you were supposed to come here today. so we are both here. not really, folks. a lot of talk today is about what investors should do if we go over the cliff. what should we do if there is a debt deal before year-end or shortly thereafter. we have smart strategies and individual stock picks for you this hour. >> that's right. well also take a look at another side of google that you very rarely hear about. the internet giant stashing billions in tax shelters to avoid paying taxes. is that fair play or outrageous corporate behavior? especially in this climate. well talk about that. but first, markets are generally higher. dow jones industrial average up 29 points on the day. nasdaq is up 7. and s&p 500 up about 1 1/2. >> they've been that way about the last ten days or two weeks or s
in sight for the fiscal cliff hanger. >> when it comes to the fiscal cliff threatening our economy and jobs the white house has wasted another wee>> why speaker says the president's my way or the highway approach is getting us nowhere. >> the feds are borrowing nearly a billion dollars a day. so why is the white house saying reducing our debt not really the goal? >> thank you, eric, it's the most watched video on the internet of all time. he is set to perform for the president. gangnam style said about our soldiers a few years ago. that controversy kicking up this morning. "fox & friends" hour one begins right now. >> get out the coffee. wake up, everyone, thank you so much for waking up with tus, it is "fox & friends" on this saturday morning. dave bowling in for dave briggs. >> come in and do the show with us today. more filling in today than the regulars. we are glad to be on with you clayton. >> you are on an interesting morning because congress now just 23 days left, 23 days until we head off that flif. fiscal cliff. if you listened to speaker boehner yesterday he is reading reports th
and the fiscal cliff. republicans want a melt on xwiemtment and tax reform from the president. democrats insist this will not happen until the gop agrees on a tax hike. senator dick durbin saying no deal on the debt without a tax hike of the wealthy. >> i can't tell you, i don't want to do it, the president doesn't want to do it, but we need to solve the problem been we cannot allow the reckless position to drive this economy into another recession. >> some suggesting that it might be better to cave to the president now on taxes and keep up the fight on spending. >> if we were to pass, for instance, raising the top two rate and that's it, all of a sudden we do have the leverage of the debt ceiling and we haven't given that up. >> meantime, one influential voice says enough is enough. >> that's like betting your country. there's something terribly bizarre and juvenile about that is to think your party comes ahead of your country. i don't go for that at all. >> that, of course, was alan simpson, the other half of simpso simpson-bowles. erskin bowles will join us this morning, as well. if you have
laws so this is the room w where any deal on the fiscal cliff would be born or die. we have we have new information on those negotiations in just a moment.. >> that's right, it's incredible it's incre to be here in this room. we're going to talk more about mor this a little later in the show. >> surrounded by all the photographs of all the powerful house & ways means chairmen.and >>> we want to get to some of first. the news first.g with violent ski on the other side ofn the the country, thousands of of the holiday shoppers had to ask thor yesterday as a man wearing camouflage opened fire at a mall hundreds o just outside portland oregon. police say he killed two people and wounded another, then shot another, himself to death. john blackstone is at clackamass town center. john good morning. >> reporter: good morning, norah and charlie and good morning to our viewers in the west. the christmas spirit quickly left this mall yesterday. one eyewitness said the gunman was wearing a hockey mask and bulletproof mask and calmly fire on announced he was the shooter before he
that gives workers the right to not pay dues. >> steve: washington can't find a solution to the fiscal cliff . but someone who fixed budgets in the past know it is simple. >> if i raise taxes again i will have to do it in two or four years . people are going to leave. >> steve: find out how america's mayor did it straight ahead. straight ahead. feel a cold coming on? gretchen, you will be better in no time. we'll drink to that. >> you will be better in no time and all of my teases will rhyme today. "fox and friends" starts right now. ♪ ♪ "fox and friends". >> steve: ho, ho, hompt look who is here today eric boling. >> gretchen: you get your own personal lurch. >> eric: good to be here. >> steve: you will find out how booze, beer and wine can make you healthier. the news we have all waited for. >> gretchen: yeah, a lot of people waking up with a headache. now it makes sense why i drank so much last night. overnight a developing story. a medical chopper went down last night leaving three people dead. the chopper which is reggistered to rock ford memorial hospital it went down in a field .
around 930 our time. a caught us a summit is that anxiety about the fiscal cliff may be misplaced and that a brief fall probably wouldn't be too damaging. even if they years passes with no deal there be no need to panic as long as an agreement seemed likely soon. the tax increases and spending cuts could be retroactively repealed. a new report is encouraging small news for small business especially in light of super storm sandy. mastercard advisers and wells fargo reported spending by holiday shoppers trump sandy's impact on small businesses in november. the report says shoppers spent 5.2% more in small retailers in november than they did last year. the total u.s. retail sales increased 4 1/2% for the same period. >> apple has begun the early stages of a television set testing. that's the word from wall street journal this morning. kaukauna's collaborating with giant tax to test designs for a large screen high-resolution tv. apple has been testing television several times for a number of years. the testing comes after apple ceo them put hinted in an interview last month of the new
scott is an upand coming star . jimdemint's personal pick. >> steve: jay carny. the fiscal cliff thing. the average person really has no idea what that stands for. if you watch that. >> brian: you much the package. >> steve: no idea. something we learned about in school . i forgot about it. jay carny revealed yesterday. gretchen just said it is not a tax problem it is the way they waste our money. jay carny said deficit reduction is not the goal. are you kidding? here he is. >> deficit reduction is not the goal here. the reason to get our fiscal house in order and the reason to pass a deficit reduction package that is balanced and allows for economic growth is to put our economy on a sustainable fiscal path which again, in itself produces positive economic benefits and revenues are part of it this. the president put forth and entitlement reforms and savings gleaned from our health care entitlement programs need to be a part of it. the president has been specific about that. >> brian: he's talking about generalitiys about unnamed cuts. jay carny goes on to admit if the president's propo
for dealing with the fiscal cliff in detroit. connell: peter barnes is in d.c. with the very latest on all of this. peter: neither side is dishing on the meeting yesterday afternoon. both sides issuing identical statement that said "the lines of communication remain open." the best strategy for republicans may be to swallow some higher tax rates, get that issue off the table and then come back to entitlement reform early next year when the president asks for an increase in the debt ceiling. then republicans will have a little more leverage. >> a lot of people are putting forth a theory. i think it has merit. you give the president the 2% increase that he is talking about. there is a growing body. i believe that maybe the best route for us to take. peter: this afternoon, the president will speak in detroit. he will be speaking at and engine company, detroit diesel. obama aides said the company will also announce $100 million new investment and production as part of the president visit. dagen and connell. dagen: thank you very much, peter. peter barnes in washington. connell: groups of union
. an apparent suicide. geraldo investigates. >> when it comes to the fiscal cliff, the white house has wasted another week. >> is the president set on driving us over a fiscal cliff unless the g.o.p. caves or can a deal be made? >> our allies no longer trust us or have confidence in us and our adversaries no longer fear us. the president can make bold statements and bold talk but i don't care they care. >> rioting in egypt. civil war in syria. and radical hamas leader is welcomed in gaza. obama's mid ootion policy is in shambles and former vice president dick cheney says the president's failure puts us all in danger. >> gong ma'am style. >> i love this little chubby south korean guy. >> it's the most downloaded video of all time. >> this is the pony, remember chubby checker. >> gangnam style. >> and bill o'reilly sits down with jay leno. we'll show you the highlights from the late night gab fest. caution, you where to internet no spin zone. the factor begins right now. >> hi everywhere, i'm laura ingraham in for bill o'reilly. thanks for watching us tonight. g.o.p. and post election blues. th
. >> is the administration prepared to go over the fiscal cliff? >> absolutely. >> the gop is on the ropes and they're ready to cave. >> the house republican leadership are like generals, hunkered away in a bunker who don't realize that their army has already laid down its arms. >> what we got today was a seminar on how to surrender. >> need the president to scare the dickens out of those people. >> if congress in any way suggests they're going to tie negotiations to debt ceiling, folks, i will not play that game. >> do we need a better mouthpiece for the republicans. >> revenues will come from guess who? the rich. >> maybe they need to learn a thing or two from president obama. >> this is a solvable problem. i do remain optimistic that we can get something done that is good for families. ♪ >>> it's exactly one month since the president's resounding re-election, but if you thought the campaign was over, you'd be wrong. in the fight over the fiscal cliff, the president is again reaching out to voters for their support. this afternoon a northern virginia family got a special visit after sharing their story
. there are only 23 days left before we dive over the fiscal cliff. republicans say we can avoid it. the president says he has a different plan. the the president doesn't want an agreement or compromise, he wants to get his way. >> what happens if the president does get his way? we'll explore that. >> hello i'm mike in for dave. apparently such a thing as a free lunch. 30 million dollars of your tax dollars were supposed to help kids affected by superstorm sandy. instead all of new york's kids are eating for free. >> clayton: do you think this 90-year-old statue is offensive? take a look at the screen, offensive. a man basically standing on a woman. some people's rights groups do and they're trying to get rid of it. we'll explain. "fox & friends" begins right now. ♪ >> straighten up your socks, mike. >> pulling up the socks, a long four hours. >> alisyn: and get dressed before the show? >> hoyt hoist them up. mike jerrick is in for dave. >> hi, everybody. >> clayton: and get the heisman trophy winner and dave was so jealous, he didn't get so see john am i manziel. >> and freshman. >> alisyn: a
. the president has adopted a deliberate strategy to slow walk our economy right to the edge of the fiscal cliff. >> yes, indeed, it's like a visit from the ghost of christmas past, casual friday edition. another positive month of jobs numbers, another glum assessment by bah humbug boehner. he couldn't even be bothered to put on a holiday tie to take up the case of mr. scrooge and the top 2%. as nancy pelosi asked, why, oh, why is congress on another recess when they could be extending tax breaks for the middle class just in time for christmas? >> this is a moment of truth, the clock is ticking, christmas is coming, the goose is getting fat, why are you not bringing this to the floor? is this a forever, forever protection of the wealthiest people in our country at the expense of the middle class? >> yes, that just about sums it all up. did we mention bain's congress has been in session all of one day this week, back on tuesday. six-day weekend. nice work if you can get it. if you listen closely to boehner and pelosi, you can perhaps hear the beginning notes of a harmonious christmas carol starti
about the fiscal cliff and raising taxes on the wealthy. taxes on the wealthy are going to go up january 1st regardless what happens with the fiscal cliff. the medicare tax on higher earnersers is going up and a steep tax on investment income. >> going up 3.8% on top of it. so the rich people who have -- who are high earners, their income will probably go up. and then they also, if they have investment income, it goes up 3.8% so they are paying more that way, and they are paying more on a medicare tax. so the democrats say the rich aren't paying more. and these taxes are going up regardless what have happens with the fiscal cliff. these tacks are written in obamacare. and if taxes do i- deed go up on the top two brackets as a result of the fiscal cliff, that will be on top of the obamacare taxes. >> is there any way for us, the nation, to police the earnings or profits are insurance company under obamacare? there are all of these extra, they get the extra deals. now the insurance companies get the extra deals because they have lobbyists and probably sent them over to the white house and
: thank you as always. melissa: president obama had to try to seeking more support for the fiscal cliff plan. peter barnes is here with the latest. >> just over an hour they will speak at a diesel engine plant persoextending tax cuts for fedl tax workers. keeping up the pressure on republicans to cave on taxes after the president and speaker john boehner met at the white house yesterday in a spokesperson said discussions with the white house are taking place, but we have no details to share about the substance of those conversations. they say perhaps the best strategy for them is to accept some higher tax rate the president is demanding, get that off the table and combat entitlement reform early next year the president can work for increasing the debt ceiling. republicans will have a little bit more leverage. speak a lot of people putting forward a theory, and i think it has merit for you give the president to 2% increass he is talking about, the rate increase on the top 2%, so there is a growing body. i'm beginning to believe that is the best route for us to take. speak loudly the deci
. connell: sending the two-party over the fiscal cliff. a number of conservatives that say the president is getting offered too much. dagen: walt has his review. there are some things he says you need to know about. the u.s. economy added 111,000 private sector jobs according to adp. a bit weaker than expected. because of impacts from hurricane sandy. the bank saying it is looking for ways to cut expenses. those cuts amount to 4% of the companies workforce and is estimated to save $1.1 billion every year. stocks now and every 15 minutes. nicole petallides. nicole: we are looking at a market that is to the downside. let's take a look at citigroup. it is about 4% of the workforce. citigroup is higher. it has had an up arrow throughout the day today. we saw the dow jones industrials this week to the downside. we had two consecutive days in selling. down arrows for the nasdaq. down 1.1%. connell: breaking news out of washington. earlier, speaker boehner speaking about the fiscal cliff. now it is president obama. let's listen. >> we have emerged not yet where we need to be, but we certainly h
will talk about the economic needs of middle class families and ways to avoid -- to avoid the fiscal cliff here on c-span. until then, more about the budget cuts and how they could affect the nation's defense budget and national security from this morning's "washington journal." host: we are continuing our series, looking at different parts of the fiscal cliff talks. today we want to focus on sequestration. joining us now is robert levenson, a senior defense analyst at bloomberg government. let's begin with what secret -- with what sequestration means. term. if you have looked it up on google 20 months ago, it would have something to do with coal and carbon, but this is about automatic cuts going into place known as sequestration. host: how did this come about? where is it headed? caller: as we recall from last year, there was a crisis over raising the debt ceiling. republicans demanded some cuts from congress. they agreed to $1 trillion in cuts, they handed over $1.50 trillion to the super committee. because they failed to come up with a deal that could be approved by congress and the pre
. we cannot get any better speakers for today's events. as washington is focused on the fiscal cliff and other issues are around the budget and long- term fiscal discipline, one may wonder why we're having an event on education. we are doing it because these issues are inextricably linked. insurers the united states is maintaining its edge in the global economy. america is role is central to that competitiveness. that has not just happened by happenstance. it has been the work led by the private sector but decisions that have been critical to that success. we look at the questions around the united states fiscal discipline. we wanted to make sure that we have some discussion about the assessment we made in the role of issues that are not always at the forefront. the vital role america's universities have played. the fact that our institutions of higher learning are the best in the world and people from around the world want to come to the united states to be our next generation of on japan new hours because of our system of higher education. the staff that we have our worldwide brand
who thinks they know is wrong. some people say it's a fiscal cliff. some people say it's a slope. some say it's a bungee jump. some say it's a skateboard trip. it's going to go down and up and so forth. bottom line, i think, it's no way to govern. it is a giant mistake to have all of this in a pool of ambiguity. as i understand it, you may know more, it truly is a stalemate. they are not talking. >> you point out it is the same players. i think you'll agree players that matter most is the president, speaker boehner. what do we know about their personal relationship that might illuminate what's going on right now? >> well, they started out last year when they were working on the debt ceiling and they had what are called the measure low and nick -- merlot and nicoret meeting. boehner would have merlot and the president would be chewing nicorette gum. and they had ice tea for the president. and boehner would have his cigarette. they put the cigarette away for the picture. they haven't closed the deal only the personal relations. that's a shame. somebody, instead of sponsoring your breakfa
fiscal cliff talks with the white house. on capitol hill for one day at least, all was pretty quiet. posturing and finger pointing kind of stopped. cnn political reporter shannon travis joins us now live from washington. what's the the latest on the talks or the silence? >> the silence seems to be golden, john. remember last week when all the players involved seem to be posturing and positioning and talking about negotiations? not so much, at least in the past few days. we know president obama and house speaker john boehner had a one-on-one meeting, right, on sunday, their first since mid-november. what were the details from that meeting and from the ongoing discussions? they're not really -- both sides are not really being forthcoming with what the substance of those conversations, both sides yesterday, the white house and the republican leadership put out statements. they're essentially the same. i'll read just one from boehner's press secretary. discussions with the white house are taking place but we have no detail to share about the substance of those conversations. the republi
. in today's headlines... the market is still looking for progress on avoiding the fiscal cliff. president obama and congressmen boehner met at the white house yesterday. stocks inched higher on the news, with the dow and s&p 500 near 5-week highs. selling in apple once again held back the nasdaq. gold was up and oil was down. a two-day fed meeting starts today with the fed most likely talking about stimulating the economy by purchasing more treasury bonds to keep interest rates low. the government is selling its remaining stake in aig... and reports say regulators have a $1.9 billion dollar settlement with hsbc. the bank is accussed of laundering money for drug dealers and terrorists. john brady of rj o'brien joins us now. john, are you seeing any special positioning ahead of the fed? > > we have angie. over the course of the last two weeks so, we have seen equity markets continue to "melt up," as traders would say, continue to be sort of supported by this idea that the federal reserve is going to continue its method of quantitative easing. the fed meeting to start today. however, we will
're fiscal cliff cliff fatigued to death. it's a real turnoff and we know it, but i want to address the issue in big picture terms with you because you're big picture thinker. i think at the end of the day we will have higher taxes on wealthy people, promises to cut spending somewhere down the road and don't worry about the debt, ignore it it. i think that's the outline of a big picture deal. what do you say? >> i sort of agree, stuart. there will be higher taxes. i do think the republicans will extract a couple of entitle reformat. a new way to calculate the cost of living adjustment and social security, maybe a higher payment by beneficiaries who are wealthier in medicare and finally the last point you make is the really intriguing one, that's the debt ceiling. and my hunch is the republicans will cave on taxes and they'll come back to fight again later in the winter on the debt ceiling and they could really extract major spending cuts by late winter. >> so you don't think the president will get the blank check that he wants, no debt ceiling? he wants no debt ceiling, you don't think he'll
for him. if he goes off to hawaii and spends three weeks there, and no deal happens and the fiscal cliff hits and we've got the largest tax increase in history and the markets plummet and he's sitting over there splashing in the surf, i don't think he can do it. >> i wonder what other nations think about us? this is, you know, is it a terrible problem we are going through right now, but we look like we can't handle our own business. we can't talk to each other, we can't figure out our own economics, and i can't think what kind of morale authority do we have in the world when we look so pathetic, so pathetic in terms of how we handle things and the fact that we don't? >> the problem with the american people is today they are -- greta, they are as deeply divided and polarized as we have almost ever been. look what boehner is could go right now in making a deal. he's violates his fundamental principles. he's violatings a commitment he made to the american people. he's doing something that he thinks will hurt the american economy, $800 million of tax on job creators, he's splitting his party
edge. >> let's take a break and talk about the fiscal cliff. talking about ridiculous situations. i want to get your latest on that and the latest on the deadly prank apology. it's lots of things. all waking up. ♪ becoming part of the global phenomenon we call the internet of everything. ♪ trees will talk to networks will talk to scientists about climate change. cars will talk to road sensors will talk to stoplights about traffic efficiency. the ambulance will talk to patient records will talk to doctors about saving lives. it's going to be amazing. and exciting. and maybe, most remarkably, not that far away. the next big thing? we're going to wake the world up. ♪ and watch, with eyes wide, as it gets to work. ♪ cisco. tomorrow starts here. >>> if we had any idea that something like this could have been even possible to happen, you know, we couldn't see this happening. it was meant to be a prank call. >> it's nothing more than a tragic turn of events that no one could have predicted. and you know, for the part we played in it, we're obviously -- we're incredibly sorry. >> tw
benefits in terms of the additional uneconomic. >> once you get to the fiscal cliff there is a clear innovation agenda. and the conditions we will have as a result of the fiscal cliffs did get out that. the first one will be immigration. we agreed and a lot of people say how are we going to compete with china and we can have the entire world at our disposal. under which the best people in the world can come to the u.s. and start businesses. >> then we have to focus on a special in the corporate tax reform to get the system which is simpler and promotes efficiency and these are for american businesses. then we have to and that will -- efficiency will be enormous. the next is an infrastructure investment to be made. in the context of the budget deal we are getting where we will spend less going forward. we have to think about what our values are and the most important things we can spend money are on infrastructure to make investments in the future rather than have short-term spending. and twin that with support for research, basic research and higher education and for education. if go
torn off, fortunately no injuries reported. >>> the fiscal cliff, its effect on real people, for some it means losing their only source of income. you'll meet one of them coming up next. stay with us. americans are always ready to work hard for a better future. since ameriprise financial was founded back in 1894, they've been committed to putting clients first. helping generations through tough times. good times. never taking a bailout. there when you need them. helping millions of americans over the centuries. the strength of a global financial leader. the heart of a one-to-one relationship. together for your future. ♪ together for your future. sfx- "sounds of african drum and flute" look who's back. again? it's embarrassing it's embarrassing! we can see you carl. we can totally see you. come on you're better than this...all that prowling around. yeah, you're the king of the jungle. have you thought about going vegan carl? hahaha!! you know folks who save hundreds of dollars by switching to geico sure are happy. how happy are they jimmy? happier than antelope with night-vision gogg
said gene sperling would be joining us after this discussion. he was in the midst of the fiscal cliff negotiations, so hopefully he will tell us how he is protecting these important investments. >> next, a conversation about spurring investment in the marketplace. this is hosted by the center for american progress. this is 55 minutes. >> that is a really tough act to follow. >> for sure. >> we have a challenge. i am al hunt. i am delighted to be here. let me tell you one quick story about our host. when i met neera when she was policy director for hillary clinton and barack obama, i did a column or i refer to her as the sugary ray robinson. he was a pound for pound the greatest boxers. she was the sugar ray robinson of policy record. everytime i see here i say "hi, sugar." >> i was wondering why you said that. >> well, when my younger reporters heard this and it to a colleague "it is just a different generation." i am sorry, sugar. >> well -- andwhat i'm glad you explained that. >> it is terrific to be here. what a great panel. glenn hutchins is the founder of silver lake. he is a tre
automatic tax increases and spending cuts will send the economy over the fiscal cliff, and around the capitol there's largely the sound of silence as the white house and congress try to work out a deal behind closed doors. the president has no public events on his schedule. and all through the house, not a creature was stirring except, that is, for john boehner, who emerged to gavel the house into session this afternoon after a week's recess with his trademark holiday cheer. >> washington has a spending problem. now, the president doesn't agree with our approach. he's got an obligation to put forward a plan that can pass both chambers of the congress because right now the american people have to be scratching their heads and wondering when is the president going to get serious? >> i'm sorry, i meant his trademark ba ham bug which he's been doling out by the sleigh load. >> there's a stalemate. let's not kid ourselves. we have a debt problem that is out of control. we've got to cut spending. washington has got a spending problem. just more of the same. >> more of the same indeed. a
in the fiscal cliff. after that, a panel on innovation and the economy. later a conversation about have the fiscal deadline could affect the defense budget. >> on tomorrow morning's "washington journal," we continue our look at the so- called fiscal clef and what happens if the budget cuts take place in january. jim doyle the effect on businesses. after that, charles clark looks at domestic program cuts. in more about the issue with the brookings institution. bless your e-mail, phone calls, and tweets. that is live tuesday at 7:00 a.m. eastern on c-span. >> next, president obama talking about the economy and the need to reach an agreement with congress on the january fiscal deadline. he spoke at a diesel plant outside of detroit. his remarks are about 25 minutes. >> hello, redford! [applause] it is good to be back in michigan. [applause] how is everybody doing today? [applause] now, let me just start off by saying we have something in common -- both our teams lost yesterday. [laughter] i mean, i would like to come here and talk a little smack about the bears, but we didn't quite get it
'm tired of hearing about the fiscal cliff. i think it's a cliche. and i submit to you mcguirk, that most americans have no idea what this story is about. >> i think a couple of things. but i think this is a conspiracy to kill right wing talk radio because this will make your ears bleed listening to these guys argue about it and be angry over it. but i would also say to the republics, obama won. it's like all this whining about that. i mean, they are like the japanese soldiers in the pacific after world war ii still fighting the battle way into the 1950s. he won. it's over and the fiscal cliff is either -- the taxes are going to go up on these rich people one way are 00 other. >> bill: they are going to go up on everybody. as howard dean said at the top of the program. the rich people are going to pay much more which is a good reason not to buy gutfeld's book because if you do he is going to have to pay more in taxes next year because that's when the royalties will come into him. everybody is going to have to pay more taxes because we're in such dire trouble. now, gutfeld, do you believe
that the wealthiest americans pay more in taxes. has the fiscal cliff is three weeks away. he made the case for his proposal at a detroit auto plant. republicans are standing by that does not include those increases. if no deal is reached? there could be a major increase with severe spending cuts. >> the dallas cowboys football family is dealing with a tragedy. one team member died in a horrific car crash. another team member is charged in dallas cowboys nose tackle josh brent was released from dollar bond. he was arrested after a fiery car crash his teammate jerry brown. who was a passenger in brent's car. >> it appears as if he was traveling at a high rate of speed, at which time his vehicle touched or impacted the outside curb of the surface road causing the vehicle to flip at least one >> >> time. irving, texas police say the car traveled about 900 feet after hitting the curb. they arrested the 24-year old brent on suspicion of intoxication manslaughter. >> of our officers on scene felt as if alcohol was a contributing factor in the accident. dallas cowboys head coach jason garrett says brown
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